Voya Investment Management LLC Lowers Holdings in Pegasystems Inc. (NASDAQ:PEGA)

Voya Investment Management LLC lowered its stake in shares of Pegasystems Inc. (NASDAQ:PEGA - Free Report) by 83.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,855 shares of the technology company's stock after selling 96,758 shares during the quarter. Voya Investment Management LLC's holdings in Pegasystems were worth $1,850,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PEGA. Principal Securities Inc. increased its position in Pegasystems by 150.5% during the fourth quarter. Principal Securities Inc. now owns 278 shares of the technology company's stock worth $26,000 after purchasing an additional 167 shares during the last quarter. EverSource Wealth Advisors LLC grew its stake in shares of Pegasystems by 85.6% during the 4th quarter. EverSource Wealth Advisors LLC now owns 323 shares of the technology company's stock valued at $30,000 after buying an additional 149 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Pegasystems during the 4th quarter worth $61,000. Global Retirement Partners LLC raised its position in shares of Pegasystems by 48.0% in the 4th quarter. Global Retirement Partners LLC now owns 789 shares of the technology company's stock worth $74,000 after buying an additional 256 shares during the period. Finally, Covestor Ltd boosted its holdings in Pegasystems by 75.0% in the fourth quarter. Covestor Ltd now owns 1,493 shares of the technology company's stock valued at $140,000 after acquiring an additional 640 shares during the last quarter. 46.89% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the company. JMP Securities restated a "market outperform" rating and issued a $110.00 price objective on shares of Pegasystems in a report on Thursday, February 13th. DA Davidson lifted their price target on shares of Pegasystems from $70.00 to $90.00 and gave the company a "neutral" rating in a research report on Wednesday, April 23rd. Citigroup decreased their price objective on shares of Pegasystems from $119.00 to $107.00 and set a "buy" rating for the company in a research note on Tuesday, April 22nd. StockNews.com upgraded Pegasystems from a "hold" rating to a "buy" rating in a report on Friday, April 25th. Finally, Barclays reiterated a "positive" rating on shares of Pegasystems in a report on Thursday, April 24th. Three analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $100.27.

Pegasystems Trading Up 0.1 %

PEGA stock opened at $92.16 on Friday. The firm has a market cap of $7.89 billion, a P/E ratio of 91.25 and a beta of 1.22. The stock's 50 day simple moving average is $74.43 and its 200 day simple moving average is $86.32. Pegasystems Inc. has a 12-month low of $55.71 and a 12-month high of $113.67.

Pegasystems (NASDAQ:PEGA - Get Free Report) last posted its earnings results on Wednesday, February 12th. The technology company reported $1.27 EPS for the quarter, missing the consensus estimate of $1.47 by ($0.20). Pegasystems had a net margin of 6.63% and a return on equity of 32.09%. On average, research analysts forecast that Pegasystems Inc. will post 1.89 EPS for the current fiscal year.

Pegasystems Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Tuesday, April 1st were issued a $0.015 dividend. This represents a $0.06 dividend on an annualized basis and a yield of 0.07%. The ex-dividend date of this dividend was Tuesday, April 1st. Pegasystems's dividend payout ratio (DPR) is 5.83%.

Insider Activity

In other Pegasystems news, Director Larry Weber sold 1,100 shares of the company's stock in a transaction dated Monday, April 28th. The shares were sold at an average price of $91.55, for a total transaction of $100,705.00. Following the completion of the sale, the director now directly owns 6,547 shares of the company's stock, valued at approximately $599,377.85. This represents a 14.38 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Kenneth Stillwell sold 2,000 shares of the firm's stock in a transaction that occurred on Monday, February 3rd. The stock was sold at an average price of $105.63, for a total transaction of $211,260.00. Following the completion of the transaction, the chief financial officer now directly owns 14,466 shares of the company's stock, valued at $1,528,043.58. This represents a 12.15 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 135,762 shares of company stock valued at $10,386,802. Company insiders own 50.10% of the company's stock.

Pegasystems Company Profile

Pegasystems Inc develops, markets, licenses, hosts, and supports enterprise software in the United States, rest of the Americas, the United Kingdom, rest of Europe, the Middle East, Africa, and the Asia-Pacific. The company provides Pega Infinity, a software portfolio comprising of Pega Customer Decision Hub, a real-time AI-powered decision engine to enhance customer acquisition and experiences across inbound, outbound, and paid media channels; Pega Customer Service to anticipate customer needs, connect customers to people and systems, and automate customer interactions to evolve the customer service experience, as well as to allow enterprises to deliver interactions across channels and enhance employee productivity; and Pega Platform, an intelligent automation software for increasing efficiency of clients' processes and workflows.

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